2. Suppose that in an economy 100 worker-hours produce 160 units of output in year 1. In...
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2. Suppose that in an economy 100 worker-hours produce 160 units of output in year 1. In years 2 and 3 worker-hours are 120 and 130 and units of output are 216 and 260, respectively. Using year 2 as the base year, calculate
(a) the productivity index for all three years and
(b) the rates of productivity growth.
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Related Book For
Contemporary Labor Economics
ISBN: 9780073375953
9th Edition
Authors: Campbell McConnell, Stanley Brue, David Macpherson
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